Discussions on FTAs with several countries progressing fast: Piyush Goyal

NEW DELHI : Highlighting the role that traders play, Commerce Minister Shri Piyush Goyal said that they are “the twin pistons powering the economic growth engine of the nation”. 

India is fast progressing in discussions on different free-trade agreements (FTAs) with countries, including the UK and the UAE, to further enhance trade and investment ties, Commerce and Industry Minister Shri Piyush Goyal said on Saturday.

Goyal said India is engaging for such pacts with economies having transparent rule of law and with whom India can have confidence that it will get a fair deal and reciprocal benefits.

“We are fast progressing in our discussions with the UK, with the UAE and other GCC (Gulf Cooperation Council) countries. Canada and Australia are really on a fast track,” Goyal said while addressing the business and trade fraternity.

The minister also stated that recently, he had discussions with the USA’s Charge’d Affairs in Delhi Atul Keshap, and both agreed to aspire for a USD 500-billion trade between the countries at the earliest possible time.

Goyal said that India has the potential to become the “manufacturing hub” of world, referring to survey by real estate consultant Cushman & Wakefield, which showed India has overtaken the US to become the second-most sought-after manufacturing destination globally.

Highlighting the role that traders play, Goyal said that they are “the twin pistons powering the economic growth engine of the nation”. “As policymakers, we firmly believe in the capabilities of the business community as well as start-ups which can make India the top economy globally in the next 25-30 years,” he added.

Goyal further said that India should now focus on becoming a “Trading hub” – the place where world comes to shop. The minister said that India is moving ahead with the mantra of SPRINT – Stability, Productivity, Resilience, Innovation, Nationalistic spirit and Talent.

Source : Hindustan Times